Two Creeks Capital Management, LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Two Creeks Capital Management, LP reported 21 stock positions worth $947.0 million . Its top holding was Talen Energy (TLN) at 7.6% of the portfolio, followed by Uber Technologies (UBER, 7.5% ) and Danaher (DHR, 7.1% ). Compared with Q4 2025, it opened 3 new positions, sold out of 8, added to 12 and reduced 5. The biggest buy was a new position in Esco Technologies (ESE) and the biggest sale an exit from Lowe's Cos (LOW).
Location New York, NY
CIK 0001606430
Portfolio Value $947.0M (Q1 2026) Holdings 21 stocks · $947.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 TLN Talen Energy Corp. 224,779 $71.8M Add +69.1% UBER Uber Technologies Inc. 988,442 $71.1M Add +32.0% DHR Danaher Corp. 355,509 $67.4M Add +33.0% V Visa Inc. Class A 220,794 $66.7M Add +0.7% TSM Taiwan Semiconductor-SP ADR 181,939 $61.5M Add +91.3% FND Floor & Decor Holdings Inc. Class A 1,160,390 $58.9M Reduce -15.5% MSFT Microsoft Corp. 158,604 $58.7M Add +52.5% ESE Esco Technologies Inc. 180,938 $50.9M New MIR Mirion Technologies Inc. 2,449,059 $45.5M Reduce -16.2% MA Mastercard Inc. Class A 90,649 $45.3M Add +0.7% ABNB Airbnb Inc. Class A 356,325 $45.0M Add +0.8% PLNT Planet Fitness Inc. Class A 603,926 $44.9M Add +30.9% CMG Chipotle Mexican Grill Inc. 1,388,269 $44.4M Reduce -21.4% U Unity Software Inc. 1,983,683 $43.5M Add +86.5% ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 32,909 $43.5M Reduce -37.5% GRAB Grab Holdings Ltd. Class A 8,951,087 $32.8M Add +0.8% WING Wingstop Inc. 172,808 $26.8M Add +0.8% FCX Freeport-McMoran Inc. 399,816 $23.5M New CNM Core & Main Inc. Class A 405,639 $20.0M New HDB HDFC Bank Ltd.-ADR 571,154 $14.2M Reduce -23.2% RTO Rentokil Initial PLC-SP ADR 334,758 $10.5M No change
Options reported separately and not counted above: AAP calls ($26.8M).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ LOW Lowe's Cos Inc. Sold out 0.00% −4.76 CPNG Coupang Inc. Sold out 0.00% −4.31 DKNG Draftkings Inc. Class A Sold out 0.00% −3.17 EXE Expand Energy Corp. Sold out 0.00% −3.12 EQT Eqt Corp. Sold out 0.00% −3.11 ENTG Entegris Inc. Sold out 0.00% −2.98 AMZN Amazon.com Inc. Sold out 0.00% −2.79 MIR Mirion Technologies Inc. Reduce -16.2% 4.81% −0.81 HDB HDFC Bank Ltd.-ADR Reduce -23.2% 1.50% −0.73 CMG Chipotle Mexican Grill Inc. Reduce -21.4% 4.69% −0.66 FND Floor & Decor Holdings Inc. Class A Reduce -15.5% 6.22% −0.63 IBN Icici Bank Ltd.-Spon ADR Sold out 0.00% −0.28 ASML ASML Holding NV-NY Reg SHS Reduce -37.5% 4.59% −0.03
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ ESE Esco Technologies Inc. New 5.38% +5.38 TSM Taiwan Semiconductor-SP ADR Add +91.3% 6.49% +4.12 TLN Talen Energy Corp. Add +69.1% 7.58% +3.49 UBER Uber Technologies Inc. Add +32.0% 7.51% +2.49 FCX Freeport-McMoran Inc. New 2.48% +2.48 CNM Core & Main Inc. Class A New 2.12% +2.12 DHR Danaher Corp. Add +33.0% 7.12% +2.10 MSFT Microsoft Corp. Add +52.5% 6.20% +2.08 ABNB Airbnb Inc. Class A Add +0.8% 4.75% +0.82 V Visa Inc. Class A Add +0.7% 7.05% +0.74 U Unity Software Inc. Add +86.5% 4.60% +0.74 PLNT Planet Fitness Inc. Class A Add +30.9% 4.74% +0.64 MA Mastercard Inc. Class A Add +0.7% 4.78% +0.57 GRAB Grab Holdings Ltd. Class A Add +0.8% 3.46% −0.17 WING Wingstop Inc. Add +0.8% 2.83% −0.52
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ AAP Advance Auto Parts Inc. call New 507,900 $26.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 13 $139.5M ACWI, FND, V, TSM, ASML Q1 2026 21 $947.0M TLN, UBER, DHR, V, TSM Q4 2025 26 $1.2B FND, V, MIR, CMG, DHR Q3 2025 25 $1.4B FND, CMG, ASML, MIR, UBER Q2 2025 25 $1.5B FND, TLN, UBER, FLUT, V Q1 2025 23 $1.6B FND, V, LOW, CMG, EQT Q4 2024 22 $1.6B V, FND, LOW, CRH, PLNT Q3 2024 18 $1.5B FND, LOW, V, PLNT, ABNB Q2 2024 18 $1.6B V, FND, LOW, CRH, ABNB Q1 2024 17 $1.7B V, FND, HDB, LOW, AZPN